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. >> the homestead tax credit is a credit given by the state of maryland that caps the assessment of your property, your real estate, your personal residence, basically. >> we should all closely watch negotiations on capitol hill. if we go over the fiscal cliff, our 2013 taxes will be dramatically affected and it's significant me to -- enough that most will see the difference in the paychecks immediately. >> if you are an employee making $100,000 a year, automatically you'll see a $2,000 increase in social security withholding. >> for more tax tips or information, visit wbaltv.com. >> flying is getting easier for some travelers. the pilot program in place at airports. exciting news for bargain shoppers. when a new nordstrom's rack will pop up and local retailers hope to cash in on the ravens' success. >> we begin this morning's consumer alert with exciting news for shoppers in columbia. a nordstrom's rack is opening up as early as next spring at columbia crossing, located off of the jessop exit at i-95. the merchandise is in season and on trend, separate nordstrom stores. it's usuall
. >> the homestead tax credit is a credit given by the state of maryland that caps the assessment of your property, your real estate, your personal residence, basically. >> we should all closely watch negotiations on capitol hill. if we go over the fiscal cliff, our 2013 taxes will be dramatically affected and it's significant me to -- enough that most will see the difference in the paychecks immediately. >> if you are an employee making $100,000 a year, automatically you'll...
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Dec 30, 2012
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, and allowing tax rates to increase on the wealthiest americans. but the issue remains a major sticking point, with many republicans resisting any tax increase. economists says the last minute product -- a process called into question washington's ability to deal with the hard issues of tax reform. >> the prospects for the economy are incredibly dim until we tackle these challenges and put some certainty into the economy and boost confidence. >> meanwhile, americans watch with worry and frustration heard >> i think they are failing as. i am so sick and tired of them. >> is it the equivalent of worrying about your mortgage after you are homeless. it is a sad. they have a job to do and they are not doing it. >> tomorrow morning, president obama will be david gregory's guest on "meet the press". you can catch his interview on 11 news at 10:00 a.m. now to today's storm, the third we saw this week. while there was snow and frederick and carroll counties, many folks might call this the good kind of snowstorm, the kind that covered the ground just enough
, and allowing tax rates to increase on the wealthiest americans. but the issue remains a major sticking point, with many republicans resisting any tax increase. economists says the last minute product -- a process called into question washington's ability to deal with the hard issues of tax reform. >> the prospects for the economy are incredibly dim until we tackle these challenges and put some certainty into the economy and boost confidence. >> meanwhile, americans watch with...
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Dec 22, 2012
12/12
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some house republicans refused to raise taxes on anyone. for a few days, both sides are setting aside politics. >> i wish all of the american people in a blast and merry christmas. >> merry christmas, ever ready. >> happy hollow -- happy holidays. >> the president and speaker say is not too late. if someone cannot find a way to give, americans are in danger of getting a tax increase on january 1. >> support streams in for the grief-stricken community of newtown, connecticut yes you did, yes you did. no i didn't, no i didn't. yes you did, yes you did. no i didn't, no i didn't. yes you did. did not. [ male announcer ] find some peace this holiday. get an 8 piece meal now with a dozen delicious cookies baked in-store. the kfc festive feast. all for just $19.99. today tastes so good. [captioning made possible by constellation energy group] >> the painful tobias continue in connecticut. a local family held a funeral service for their little girl. josephine was born in maryland. killed inside sandy hook elementary school. the family says she will
some house republicans refused to raise taxes on anyone. for a few days, both sides are setting aside politics. >> i wish all of the american people in a blast and merry christmas. >> merry christmas, ever ready. >> happy hollow -- happy holidays. >> the president and speaker say is not too late. if someone cannot find a way to give, americans are in danger of getting a tax increase on january 1. >> support streams in for the grief-stricken community of newtown,...
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Dec 30, 2012
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>> that is right, the temporary payroll tax cut is set to expire, affecting everyone getting a paycheck. we are told senate leaders are trying everything, private conferences, phone call, email trying to hammer out a deal before the deadline. the clock is ticking, just three days left now. >> i'm hopeful and optimistic. >> this weekend, government issued the's are arriving at the capitol signal talks are still going on, but the americans are getting impatient. >> sit down, get in a room, and don't come out until you get this taken care of. >> right now, harry reid and mitch mcconnell are working on a so-called mini deal to prevent a tax increase for roughly 98% of american workers, extending unemployment benefits to nearly 2 million people, preventing cuts to medicare doctors. >> whenever we come up with will be in perfect. >> it comes up with president obama calls the bare minimum addressing tax cuts without doing anything to curb spending. >> we will get at best a patch and be here again in two months. congress cannot get out of its own way. >> average family would pay an extra $3,400
>> that is right, the temporary payroll tax cut is set to expire, affecting everyone getting a paycheck. we are told senate leaders are trying everything, private conferences, phone call, email trying to hammer out a deal before the deadline. the clock is ticking, just three days left now. >> i'm hopeful and optimistic. >> this weekend, government issued the's are arriving at the capitol signal talks are still going on, but the americans are getting impatient. >> sit...
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Dec 29, 2012
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and every american's tax rates are going up. every american's paychecks will get a lot smaller. >> friday, president obama and congressional leaders met about an hour and agreed to keep talking. >> it is constructive and it is getting done. we will see. >> this eveleaders in the senate are signaling they are ready to compromise. >> i'm hopeful and optimistic. and if there were is no deal the president wants an up or down vote extending tax cuts for those making a quarter million dollars or less. >> i will urge the senate to hold an up or down vote on a basic package to protect the middle class from a tax hike extend vital unemployment insurance for americans looking for a job. >> the impasse has shaken wall street, the dow jones falling 400 points since last week. business people but this man are worried about the future. >> we are deciding how many people we are hiring and we are figuring out how many machines and robots to invest in our factory. >> commits to be axed, there is agreement on 90% of the tax debate. it is the fate
and every american's tax rates are going up. every american's paychecks will get a lot smaller. >> friday, president obama and congressional leaders met about an hour and agreed to keep talking. >> it is constructive and it is getting done. we will see. >> this eveleaders in the senate are signaling they are ready to compromise. >> i'm hopeful and optimistic. and if there were is no deal the president wants an up or down vote extending tax cuts for those making a quarter...
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Dec 28, 2012
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meeting, president obama will push for a stop gap measure, a small deal that will at least prevent tax increases for those earning $250,000 or less. but even that seems unlikely. >> the american people have a right to be very upset with this congress. >> publicly, both sides have ratcheted up rhetoric, pointing the finger. >> john boehner seems to care more about keeping his speakership than keeping the nation on firm financial footing. >> the only reason why democrats have been trying to defect -- deflect attention over the past few weeks is they did not have a plan of their own. >> the path for the rest in the hands of the senate. house republican leaders say they will take action on whatever bill can pass the chamber. if there is a breakthrough, the legislation will not pass until the 11th hour or because house members to not return here until sunday night. abc news washington. >> new word on a potential dockworkers' strike that could cripple the nation's economy. the mediator now says contract with the longshoremen on the east and gulf coast have been extended for 30 days. thousand
meeting, president obama will push for a stop gap measure, a small deal that will at least prevent tax increases for those earning $250,000 or less. but even that seems unlikely. >> the american people have a right to be very upset with this congress. >> publicly, both sides have ratcheted up rhetoric, pointing the finger. >> john boehner seems to care more about keeping his speakership than keeping the nation on firm financial footing. >> the only reason why democrats...
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Dec 26, 2012
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if not, we heard this, massive tax hikes, spending cuts will kick in automatically. the president and congress are due back in washington tomorrow. >>> and it is back to the mall today for millions of americans. today is expected to be the fifth-busiest shopping day of the year. but it's been a disappointing season so far for retailers, who are reporting the weakest sales growth since 2008. but the week between christmas and new year's can account for as much as 15% of holiday sales. >>> and more good news for hollywood, which is wrapping up a record year at the box office. "les mis" starring anne hathaway, hugh jackman, and russell crowe, had a strong opening. taking in a better-than-expected $17 million. ticket sales are up about 6% compared to last year. can't wait to see that one. >>> finally, if your christmas dessert just wasn't enough, well look what just rolled in. this, my friends, is the creation of a belgian chocolate company. the world's longest vintage chocolate steam train. did i mention it's chocolate. 110 feet of it. solid, nothing hollow. >> all that
if not, we heard this, massive tax hikes, spending cuts will kick in automatically. the president and congress are due back in washington tomorrow. >>> and it is back to the mall today for millions of americans. today is expected to be the fifth-busiest shopping day of the year. but it's been a disappointing season so far for retailers, who are reporting the weakest sales growth since 2008. but the week between christmas and new year's can account for as much as 15% of holiday sales....
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Dec 27, 2012
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their taxes will go up just next year, $7,500. and lebron james, you know, the guy made about $53 million last year. his taxes, just next year, would go up $2.4 million. >> ouch. >> reporter: poor lebron. >> indeed. we say it's five days away. but the idea is, we can't get this done if they reach a deal 15 minutes before the deadline clears. are we already past the point of no return? >> we are already virtually certain that we're going to go over this fiscal cliff. these guys suddenly came to an agreement over the next few days, they could pass it at the beginning of january. and we could not see many of the impacts. but i wouldn't be optimistic about that. >> jonathan karl, i have a feeling i'll see you here around 7:07 tomorrow morning. thank you, jon. >> amy? >>> let's go to paula faris with the other top stories develop right now. paula? >> we have an update on 41. we begin with growing concern about the health of former president george h.w. bush. he has suffered a setback. mr. bush is in intensive care after doctors were un
their taxes will go up just next year, $7,500. and lebron james, you know, the guy made about $53 million last year. his taxes, just next year, would go up $2.4 million. >> ouch. >> reporter: poor lebron. >> indeed. we say it's five days away. but the idea is, we can't get this done if they reach a deal 15 minutes before the deadline clears. are we already past the point of no return? >> we are already virtually certain that we're going to go over this fiscal cliff....
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Dec 29, 2012
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extending tax cuts for those making $250,000 or less. and continuing unemployment benefits for the millions who will lose them when the new year strikes. >> that's the bare minimum that we should be able to get done. >> reporter: it's clear whatever happens, there is no time, now, for a grand bargain on the even tougher issues. cutting spending and raising the debt ceiling. >> we're going to end up with a small, kick-the-can down the road bill, that creates another fiscal cliff to deal with this fiscal cliff. how irresponsible is that? >> reporter: and does washington still, the stock market burns. dropping for a sixth-straight day under this uncertainty. americans are burning up, too. >> this is america. they should be working for the american people. >> can't believe we got this close. >> get in a room and don't come out of the room until you've got this thing taken care of. >> reporter: what the senate leaders hope to do is put together this deal, bring it to the senate tomorrow. then, the house comes back in session tomorrow night. t
extending tax cuts for those making $250,000 or less. and continuing unemployment benefits for the millions who will lose them when the new year strikes. >> that's the bare minimum that we should be able to get done. >> reporter: it's clear whatever happens, there is no time, now, for a grand bargain on the even tougher issues. cutting spending and raising the debt ceiling. >> we're going to end up with a small, kick-the-can down the road bill, that creates another fiscal...
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forcing tax increases and lactose intolerance on america this morning. jon karl, thank you very much. jon, by the way, has a big show this morning. senators chuck schumer and jon kyl debating the cliff. that is later on "this week." >>> a lot of news developing overnight. we go to mr. ron claiborne who has extraordinary videotape. >>> out of russia. a plane crash outside of moscow. we'll begin with this stunning video. the plane overshot the runway and careened into traffic and abc's kirit radia has the story. >> reporter: you're about to see the terrifying moment of impact as the russian passenger jet slams into a busy highway. watch again. you can see the plane's tire colliding with the moving car. and listen closely. you can hear the squealing brakes and crushing metal. the crash took place on saturday at an airport outside moscow. the red wing airlines flight broke through a barrier fence shattering into three pieces and bursting into flames before skidding to a stop at the edge of the highway. witnesses rushed to pull survivors out of the wreckage.
forcing tax increases and lactose intolerance on america this morning. jon karl, thank you very much. jon, by the way, has a big show this morning. senators chuck schumer and jon kyl debating the cliff. that is later on "this week." >>> a lot of news developing overnight. we go to mr. ron claiborne who has extraordinary videotape. >>> out of russia. a plane crash outside of moscow. we'll begin with this stunning video. the plane overshot the runway and careened into...
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Dec 29, 2012
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. >> t-minus three days until everyone's taxes go up. the politicians are in a mad scramble this morning. so, what are the odds of a deal to prevent disaster? >>> the price of fashion. are your skinny jeans a health risk? why doctors are warning of nerve damage, abdominal pain, heart burn, even blood clots. >>> is britney spears about to lose her job as a judge on a talent show? why simon cowell reportedly calls her toxic to the show's success. >>> and good morning, everyone. we've got a lot to get to this last week of 2012. can you believe this year is almost over? and of course, we're going to start the show with weather. take a look at snow falling overnight in illinois. the year ending with a one-two punch of nasty weather for much of the country. ginger zee will tell us how it will affect your travel plans. >> nothing makes ginger happier than a big winter storm. we'll talk to her in just a moment. >>> speaking of travel. this is exactly what you do not want to hear after you've ponied up for a christmas cruise on "the queen mary 2.
. >> t-minus three days until everyone's taxes go up. the politicians are in a mad scramble this morning. so, what are the odds of a deal to prevent disaster? >>> the price of fashion. are your skinny jeans a health risk? why doctors are warning of nerve damage, abdominal pain, heart burn, even blood clots. >>> is britney spears about to lose her job as a judge on a talent show? why simon cowell reportedly calls her toxic to the show's success. >>> and good...
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Dec 26, 2012
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this is a tax credit that up until now you would get automatically. but in 2007 the state legislature passed a law requiring all homeowners to submit an application. we had a five-year grace period. that's over. so now you have to fill out that form. >>> time now for a check of what's going on outside. mike, it has begun. >> it has begun, a lot of heavy sleet along 95 right now, along 40 you're dealing with that, really from the city on points to the south. it is raining out over the eastern shore and it is now coming down as some snow out toward the west, right along 70 going out towards fredrick, some pretty heavy snow coming down. not expecting an accumulation for the city, along 95. but outside of town two to three inches and it will really stack up out towards western maryland. could be as much as five to a foot of snow as we go into tomorrow. storm wraps up going into thursday. friday looks good and could be another storm saturday into sunday. let's get a check on traffic. lauren cook in the traffic center. hello, lauren. >>reporter: hi, mike. d
this is a tax credit that up until now you would get automatically. but in 2007 the state legislature passed a law requiring all homeowners to submit an application. we had a five-year grace period. that's over. so now you have to fill out that form. >>> time now for a check of what's going on outside. mike, it has begun. >> it has begun, a lot of heavy sleet along 95 right now, along 40 you're dealing with that, really from the city on points to the south. it is raining out over...
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Dec 26, 2012
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and then there's the issue of the fiscal cliff and higher taxes. >> i think the worries of what we're going to be dealing with at the end of the year has curbed our spending, for sure. >> reporter: retailers today are trying to outdo one another with deals, often better than what was offered the day after thanksgiving. amazon offering a 46-inch tv, marked down 44% for just $338. best buy is cutting the price of a nikon camera. and a cashmere sweater from bloomingdale's, just $89.99. last year shoppers spent more than $7 billion on the day after christmas. bargains have become a post holiday tradition. whether you're shopping in stores or surfing for discounts and free shipping from online venders, retailers are looking for you on what may be the fifth busiest shopping day of the year. brad wheelis, abc news, los angeles. >> i think you have the right idea. we should go shopping when we're done. online venders still offering free shipping. just go online and find the coupons. it's that simple. >> yes. from shopping to the big games, coming up, we'll take a look at the nba games that we
and then there's the issue of the fiscal cliff and higher taxes. >> i think the worries of what we're going to be dealing with at the end of the year has curbed our spending, for sure. >> reporter: retailers today are trying to outdo one another with deals, often better than what was offered the day after thanksgiving. amazon offering a 46-inch tv, marked down 44% for just $338. best buy is cutting the price of a nikon camera. and a cashmere sweater from bloomingdale's, just $89.99....
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Dec 28, 2012
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with incomes of $174,000, they'll pay some $7,500 more in taxes. and it's not just taxes. on january 1, unemployment benefits expire for some 2 million people. you can expect one last effort, including a meeting at the white house with congressional leaders to try to prevent the fiscal cliff from happening. but with just four days left until everybody's taxes go up, there's not a lot of optimism that it can be done in time. jonathan karl, abc news, new york. >>> tributes are pouring in for retired general norman schwarzkopf. the general, nicknamed stormin' norman, died yesterday in tampa from pneumonia. schwarzkopf commanded operation desert storm, the coalition of some 30 countries that drove iraqi forces from kuwait back in 1991. in retirement, he supported charitable causes and resisting calls to run for public office. norman schwarzkopf was 78. >>> for the second time this month, a man has been pushed to his death in the path of a new york subway train. last night, eyewitnesss say a mumbling woman shoved a man onto the tracks just as the train was pulling into an eleva
with incomes of $174,000, they'll pay some $7,500 more in taxes. and it's not just taxes. on january 1, unemployment benefits expire for some 2 million people. you can expect one last effort, including a meeting at the white house with congressional leaders to try to prevent the fiscal cliff from happening. but with just four days left until everybody's taxes go up, there's not a lot of optimism that it can be done in time. jonathan karl, abc news, new york. >>> tributes are pouring in...
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Dec 24, 2012
12/12
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the deadline for heading off tax hikes and spending cuts is now one week away. congress returns from a short holiday break on thursday and at least one senator expects negotiations to go up until new year's eve. one possibility is a partial deal on taxes and putting off spending for later. >>> also new insight this morning into mitt romney's failed run for the white house. comments coming now from his eldest son. tag romney tells "the boston globe" that his dad never actually wanted the top job and he was reluctantly convinced to run for president. "he wanted to be president less than anyone i've met in my life" is what tag said, direct quote. he went on to say that his father is a very private person who simply does not like attention. that's a stunning remark, the money, the time, the scheduling, the scrutiny, the investment. the people around you who come along for the ride. if you don't really want it, why would you jump and devote two years of your life running for the toughest job on the planet? >> i was at the romney headquarters election night and i can
the deadline for heading off tax hikes and spending cuts is now one week away. congress returns from a short holiday break on thursday and at least one senator expects negotiations to go up until new year's eve. one possibility is a partial deal on taxes and putting off spending for later. >>> also new insight this morning into mitt romney's failed run for the white house. comments coming now from his eldest son. tag romney tells "the boston globe" that his dad never actually...
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Dec 28, 2012
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but with just four days left until everybody's taxes go up, there's not a lot of optimism that it can be cone in time. jonathan karl, abc news, new york. >>> tributes are pouring in for retired general norman schwartzcopf. the general, nicknamed stormin' norman, died yesterday in tampa from pneumonia. he commanded a coalition of some 30 countries that drove iraqi forces from kuwait back in 1991. in retirement, he supported charitable causes and resisting calls to rub for public office. norman schwartzcopf was 78. >>> for the second time this month, a man has been pushed to his death in the path of a new york subway train. last night, a woman shoved the man on the tracks just as the train was pulling into the station on queens. it's not clear if she knew the victim. new york police are reviewing surveillance video recorded on the platform to try to identify the victim and the suspect. >> this is the second time this happened this month. the first one happened in times square. this one happened in queens. i love the fact that new york city has a subway system. but every time i'm putting
but with just four days left until everybody's taxes go up, there's not a lot of optimism that it can be cone in time. jonathan karl, abc news, new york. >>> tributes are pouring in for retired general norman schwartzcopf. the general, nicknamed stormin' norman, died yesterday in tampa from pneumonia. he commanded a coalition of some 30 countries that drove iraqi forces from kuwait back in 1991. in retirement, he supported charitable causes and resisting calls to rub for public office....
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Dec 30, 2012
12/12
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and if no agreement, taxes will go up for all americans. in fact, the average american family would see a tax increase of more than $3400. as congress convened, even the senate chaplain praying to avoid what the president called self-inflicted wounds. let's bring in jon carl. the source has told you the vice president has been called in on this. >> reporter: that's right. i'm told the vice president is now playing a direct role in these negotiations, trying to get to a deal, a last-minute deal, a key player in the final hours. president obama set off the high-stakes weekend scramble friday night imemployering congressional leaders to take action immediately. >> the american people are not going to have any patience fora i politically self-inflicted wound to our economy. >> reporter: with that harry reid and mitch mcconnell launched a latch-dimp effort to craft a bipt plan to that stop the tax hike going into effect on new year's day. they negotiated all day saturday. saturday night there was an offer. by this morning, a clear sense of optim
and if no agreement, taxes will go up for all americans. in fact, the average american family would see a tax increase of more than $3400. as congress convened, even the senate chaplain praying to avoid what the president called self-inflicted wounds. let's bring in jon carl. the source has told you the vice president has been called in on this. >> reporter: that's right. i'm told the vice president is now playing a direct role in these negotiations, trying to get to a deal, a last-minute...
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Dec 29, 2012
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the temporary tax increase is set to inspire. the prospects are quote not too promising they'll get to a bipartisan agreement to prevent everyone's taxes from going up. david? >> our chief white house correspondent jon karl. this waiting game is already affecting americans' 401 cans. the stock market, five straight losses. let's bring in bianna golodryga. >> take a look at what happened just the few days. the dow lost 158 points. for the week, down 252 points. david, it's real money. lost 3,000, $4,000. december is traditionally a good month for the markets. >> and for home sales. here's what the president had to say about that. >> america wonder why it is, in this town for some reason, you can't get stuff done in an organized timetable. why everything has to wait until the last minute. we're now at the last minute. the economy is growing. the housing market is recovering. but that could be impacted if folks are seeing smaller paychecks. >> bianna what is about that momentum in the housing market, is that at risk? >> it is. take
the temporary tax increase is set to inspire. the prospects are quote not too promising they'll get to a bipartisan agreement to prevent everyone's taxes from going up. david? >> our chief white house correspondent jon karl. this waiting game is already affecting americans' 401 cans. the stock market, five straight losses. let's bring in bianna golodryga. >> take a look at what happened just the few days. the dow lost 158 points. for the week, down 252 points. david, it's real...
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Dec 22, 2012
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>> i won't support raising taxes on any american. >> reporter: people that make $10 million? >> absolutely. >> so with the president heading to hawaii and congress on holiday, how do they come to a deal before the end of the year? >> congress will return two days after christmas, so there's some time, a little time, for them to try to do what they have failed to do for months. as for the president, he said he although he's going to hawaii, he said he will fly back to finalize any deal if there's a deal to be finalized, sometime after christmas and before the new year. but it takes time to pass an agreement even once it's reached. >> we shall see. thank you, jonathan karl reporting. one more note from washington. president obama nominated senator john kerry to succeed hillary clinton as secretary of state. secretary clinton who was still recovering from a concussion, was not there, but in a statement called the pick excellent. president obama's first choice for the job, susan rice withdrew her name after coming under fire about the tragedy in benghazi, libya. >>> now an update
>> i won't support raising taxes on any american. >> reporter: people that make $10 million? >> absolutely. >> so with the president heading to hawaii and congress on holiday, how do they come to a deal before the end of the year? >> congress will return two days after christmas, so there's some time, a little time, for them to try to do what they have failed to do for months. as for the president, he said he although he's going to hawaii, he said he will fly back...
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Dec 27, 2012
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now just six days until higher taxes for all americans. and tonight, a white house official is placing the burden of not getting a deal on leaders of congress. one official saying the hits from our economy are not coming from outside factors, they're coming from congressional stupidity. some members of congress do return tomorrow. these comments come just as barbara walters prepares for her "nightline" special tonight. her sitdown at the white house with the president and the first lady. and tonight here, some rare personal questions answered about their own relationship and their girls. one of whom just got her first cell phone. >> reporter: i want to talk a bit about the girls. we have been watching them grow up from little girls to young ladies. now, malia recently got her first cell phone. do you monitor it? and see who she calls or who she texts? >> i give my daughter, at this age, i give her a long rope. you know, and there is monitoring, because we have rules, but monitoring may be, you never know when i'm going to walk in your room
now just six days until higher taxes for all americans. and tonight, a white house official is placing the burden of not getting a deal on leaders of congress. one official saying the hits from our economy are not coming from outside factors, they're coming from congressional stupidity. some members of congress do return tomorrow. these comments come just as barbara walters prepares for her "nightline" special tonight. her sitdown at the white house with the president and the first...
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Dec 28, 2012
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he could see his taxes go up by more than $2.4 million next year alone. and it's not just taxes. on january 1st, unemployment benefits expire for some 2 million people. and we've just learned the president will meet tomorrow at the white house with congressional leaders. one last ditch effort to get something done, david. >> jon karl, great to have you here in new york with us. >>> as you know, two more important political notes we're following. george h.w. bush remains in a hospital in houston for what a spokesman is now describing as a series of setbacks. the 88-year-old is said to be in guarded condition in intensive care, nursing an elevated fever. >>> and we're getting late word that norman schwarzkopf has died. stormin norman was commander during the first gulf war. and he was 78. >>> we turn now to that debate over gun control. last night here, the picture from los angeles, drivers lined up for blocks, returning guns for gift certificates. 2,000 guns returned. barely two weeks now after the newtown shootings, another debate. should teachers be allowed to bring guns to scho
he could see his taxes go up by more than $2.4 million next year alone. and it's not just taxes. on january 1st, unemployment benefits expire for some 2 million people. and we've just learned the president will meet tomorrow at the white house with congressional leaders. one last ditch effort to get something done, david. >> jon karl, great to have you here in new york with us. >>> as you know, two more important political notes we're following. george h.w. bush remains in a...
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Dec 29, 2012
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the average american household would see their tax bill go up nearly $3,500. this evening, president obama telling congress, the american people are watching what we're doing here. he appeared in the briefing room a short time ago. let's go right to jon carl tonight. good evening. >> reporter: good evening, david. there are finally signs of life here in washington. after meeting with congressional leaders here at the white house, the president pronounced himself modestly optimistic that a bipartisan agreement can finally be struck that would prevent taxes from going up on virtually everybody in just four days. after meeting with the congressional leaders, the president said there would be one more effort to come to a bipartisan agreement to avoid the fiscal cliff. >> the hour for immediate action is here. it is now. and the american people are not going to have any patience for a politically, self-inflicted wound to our economy. >> reporter: there are signs of progress. mitch mcconnell and harry reid have agreed to spend the next 24 hours trying to come to a b
the average american household would see their tax bill go up nearly $3,500. this evening, president obama telling congress, the american people are watching what we're doing here. he appeared in the briefing room a short time ago. let's go right to jon carl tonight. good evening. >> reporter: good evening, david. there are finally signs of life here in washington. after meeting with congressional leaders here at the white house, the president pronounced himself modestly optimistic that a...
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. >> just four days until taxes go up for all americans. tonight what you're telling washington. >>> not again, a giant storm on the move. >>> scare at sea, the cruise ship nightmare unfolding, the captain who warned the passengers ahead of time, but it didn't work. >>> and at last. ♪ at last the american greats me lost this year. ♪ moon river the lasting gifts and the laughs they leave behind. >> everything you do, do it cool. stand back. >>> good evening on this friday night. diane is spending this holiday weekend with her family. we begin with the 11th hour high stakes meeting at the white house late today to avoid the fiscal cliff. but no deal, asanger builds across the country, the clock is ticking. just four days left before taxes go up for all americans and federal programs see major cuts. we've shown you the math here. the average american household would see their tax bill go up nearly $3,500. this evening, president obama telling congress, the american people are watching what we're doing here. he appeared in the briefing room
. >> just four days until taxes go up for all americans. tonight what you're telling washington. >>> not again, a giant storm on the move. >>> scare at sea, the cruise ship nightmare unfolding, the captain who warned the passengers ahead of time, but it didn't work. >>> and at last. ♪ at last the american greats me lost this year. ♪ moon river the lasting gifts and the laughs they leave behind. >> everything you do, do it cool. stand back. >>>...
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could see his taxes go up by more than $2.4 million next year alone. and it's not just taxes. on january 1st, unemployment benefits expire for some 2 million people. >> we're joins here in new york by jon karl. chief white house correspondent, like the ring to it with your name. a lot of people are watching, saying, stop messing around in washington. that's a lot of tax money at stake here. >> reporter: and this would be the first big tax hike we've seen in more than 20 years, david. there's a lot of talk about a potential meeting at the white house. the president came all the way back from hawaii, cut short the vacation, left the family back. no meeting scheduled yet but i would expect you will see congressional leaders sometime over the next 24, 36 hours, come to the white house one last ditch effort to at least stop these tax hikes from going into effect and extend the unemployment benefits. butguarantee. >> and some speculation that meeting could be tomorrow. >> reporter: yes. >> we'll see. jon, thank you. the clock is ticking. >>> two more important political notes we're
could see his taxes go up by more than $2.4 million next year alone. and it's not just taxes. on january 1st, unemployment benefits expire for some 2 million people. >> we're joins here in new york by jon karl. chief white house correspondent, like the ring to it with your name. a lot of people are watching, saying, stop messing around in washington. that's a lot of tax money at stake here. >> reporter: and this would be the first big tax hike we've seen in more than 20 years,...
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and time is running out to submit your homested tax credit application. the deadline is december 31st. now, this is a tax credit that up until now you would get automatically. in 2007 the state legislature passed a law requiring all homeowners to submit an application. we had five -- we had a five- year grace period and now that's over, so you have to fill out that form. geb, the deadline is the 31st. >>> if you thought the stores were packed in the final days leading up to christmas, you may not want to go out today. shoppers are going to be back in the malls to return those unwanted gifts. also cashing in on those gift cards and despite the madness at those stores, retail sales are the weakest on record since 2008. >>> they are spending their christmas half a world away. >> yeah. coming up this morning at 5:00, how are you doing this morning? how some soldiers [ no audio ] the way. >>> we do have breaking news overnight. it was a tough night for the maryland state police in
and time is running out to submit your homested tax credit application. the deadline is december 31st. now, this is a tax credit that up until now you would get automatically. in 2007 the state legislature passed a law requiring all homeowners to submit an application. we had five -- we had a five- year grace period and now that's over, so you have to fill out that form. geb, the deadline is the 31st. >>> if you thought the stores were packed in the final days leading up to christmas,...
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. >> the future, the immediate future of our taxes hang in the balance. the president and house republicans are now set to square off once more to cut a deal. with just five days remaining before the tax hikes and departmental cuts take effect. before christmas house republicans failed to pass the alternate plan instead placing the responsibility on president obama and senate democrats' shoulder. according to the "washington post" gop leaders vowed to go into session to vote on anything the democratic controlled senate approved. however speaker john boehner demanded the senate first take a look at the bill the house moved through a month ago that preserved the expiring tax cuts for the wealthy as well as the middle class. that's not likely given the president's position on raising taxes for those making more than $250,000 a year. >> i want us to not go over the cliff because i think if we do it hurts our economy and it hurts our country. >> middle class people should know their taxes go up a average of $2,000 a year and also start making meaningful reform
. >> the future, the immediate future of our taxes hang in the balance. the president and house republicans are now set to square off once more to cut a deal. with just five days remaining before the tax hikes and departmental cuts take effect. before christmas house republicans failed to pass the alternate plan instead placing the responsibility on president obama and senate democrats' shoulder. according to the "washington post" gop leaders vowed to go into session to vote on...
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lawmakers have less than a week to come up to agreement on how to avoid tax increases and spending cuts set to go into effect january. the first lady and the couple's two daughters will remain in hawaii for another 10 days. >>> for the first time starbucks' employees are being asked to write other than names on cups. the chain is asking employees in washington, d.c. to scribble the words "come together." as a message to lawmakers to settle the fiscal cliff. >> some spots blue skies, some parts grey clouds. >> interesting the colors you will see out there rainbow colors out there and we've had some in the south baylor, i'll show you one from mountain view, san jose we just had moderate rain roll through downtown, darker clouds off to the west there and that's what is going to head up into the santa cruz mountains shortly. one other advantage point, at least this side of san francisco, we are on the embarcadero side at front and vallejo streets where it looks quiet. if you look back the other way, rain coming in. san francisco heading out here any second the -- let's look at live doppler,
lawmakers have less than a week to come up to agreement on how to avoid tax increases and spending cuts set to go into effect january. the first lady and the couple's two daughters will remain in hawaii for another 10 days. >>> for the first time starbucks' employees are being asked to write other than names on cups. the chain is asking employees in washington, d.c. to scribble the words "come together." as a message to lawmakers to settle the fiscal cliff. >> some...
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leaders from capitol hill today, hoping to avoid the fiscal cliff, combination of spending cuts and tax hikes with will go into effect unless lawmakers can broker a deal before the end of the year. will meet with congressional white house. it may be too late for a deal. there are just four days left before the fiscal cliff deadline. jive to be very honest mr. president, -- >> i have to be very honest mr. president, i don't know time-wise how it can happen now. >> reporter: senate majority leader harry reid]vtkÑ lashed ot at speaker boehner accusing him of running a tar forship. >> john boehner seems to -- >> reporter: republican leaders blame democrats for the standoff and say there are limits to a compromise. >> republicans aren't about to write a blank cheque or anything senate democrats put forward just because we find ourselves at the edge of the cliff. that wouldn't be fair to the american people. >> reporter: president obama flew home early from his hawaii vacation yesterday. speaker boehner call the house back into town for an unusual sunday session. members of congress understa
leaders from capitol hill today, hoping to avoid the fiscal cliff, combination of spending cuts and tax hikes with will go into effect unless lawmakers can broker a deal before the end of the year. will meet with congressional white house. it may be too late for a deal. there are just four days left before the fiscal cliff deadline. jive to be very honest mr. president, -- >> i have to be very honest mr. president, i don't know time-wise how it can happen now. >> reporter: senate...
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lawmakers have less than a week to come up to agreement on how to avoid tax increases and spending cuts set to go into effect january. the first lady and the couple's two daughters will remain in hawaii for another 10 days. >>> for the first time starbucks' employees are being asked to write other than names on cups. the chain is asking employees in washington, d.c. to scribble the words "come together." as a message to lawmakers to settle the fiscal cliff. >> some spots blue skies, some parts grey clouds. >> interesting the colors you will see out there rainbow colors out there and we've had some in the south baylor, i'll show you one from mountain view, san jose we just had moderate rain roll through downtown, darker clouds off to the west there and that's what is going to head up into the santa cruz mountains shortly. one other advantage point, at least this side of san francisco, we are on the embarcadero side at front and vallejo streets where it looks quiet. if you look back the other way, rain coming in. san francisco heading out here any second the -- let's look at live dopplers
lawmakers have less than a week to come up to agreement on how to avoid tax increases and spending cuts set to go into effect january. the first lady and the couple's two daughters will remain in hawaii for another 10 days. >>> for the first time starbucks' employees are being asked to write other than names on cups. the chain is asking employees in washington, d.c. to scribble the words "come together." as a message to lawmakers to settle the fiscal cliff. >> some...
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matthew, the tax collector and john, the beloved disciple. mark was a companion of the apostle peter and luke was a companion of the apostle paul. >> but did they really write the gospels? >> we can never be sure. what good happens, it's easy to imagine in days such as that, peter was relaying to some young pupil the stories he remembered before it was too late, and mark is putting them into an order in which this story will offer some consolation to a church that is facing terrible destruction. >> mark is the earliest gospel, scholars say, written around 65 a.d. matthew and luke were written some 15 to 20 years later, and finally, the gospel of john was written about 90 or 95 a.d. while each of the four gospels recount the death and resurrection of jesus, they are strikingly different. >> the question of where they got their information is very interesting. what most scholars today think is that, after the days of jesus his followers told stories about him, about what he did during his ministry. and these stories were circulating year after
matthew, the tax collector and john, the beloved disciple. mark was a companion of the apostle peter and luke was a companion of the apostle paul. >> but did they really write the gospels? >> we can never be sure. what good happens, it's easy to imagine in days such as that, peter was relaying to some young pupil the stories he remembered before it was too late, and mark is putting them into an order in which this story will offer some consolation to a church that is facing terrible...
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tax base. the numbers are sort of come complex. when the bush tax cuts went into effect fewer people had an income tax liability. this is what mitt romney was talking about last year with the 47%. if the tax rates increase you all of a sudden have more people paying income taxes and you just have a broader, higher rate to play with. next year when they come back they can get rid of some of the duck -ts and what not and lower the rates and overall have a lot more money in the system to play with, a lot more options. they think they are better shape for tax reform if they come back next year with the rates having gone up. >> reporter: and by not allowing the president to just add nah see um raise the debt level, they have leverage, don't they? >> they believe so. and the president -- it's safe to say the president realizes that, because he's been insistent throughout that he won't deal with another debt level gamesmanship as he calls it from the last time around. he understands that republicans s
tax base. the numbers are sort of come complex. when the bush tax cuts went into effect fewer people had an income tax liability. this is what mitt romney was talking about last year with the 47%. if the tax rates increase you all of a sudden have more people paying income taxes and you just have a broader, higher rate to play with. next year when they come back they can get rid of some of the duck -ts and what not and lower the rates and overall have a lot more money in the system to play...
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but also things like the alternative minimum tax, not to forget payroll tax. none of that is addressed in legislation, is that? >> literature that i've read through, i don't see any attention being paid to that. quite frankly, i am surprised that more hasn't been paid to taxes and spending earlier on. here we are in the last inning, trying to avoid going over the debt ceiling by issuing low-priced treasury securities, suspending those so that we don't hold the debt ceiling. we don't want breathing room until february. we want to have a plan in place that outlines a good plan. greg: procrastinators in washington dc -- they don't do anything unless they have to, right? >> it seems that way. it's unfortunate because i don't realize the exact ramifications. greg: thank you so much for joining us. happy holidays. >> happy holidays to you as well. heather: coming up, the person sentenced to death and then set free for converting from muslim to christianity. more coming up next. greg: a look at some crazy new laws in the books for 2013 heather: a changing of the guar
but also things like the alternative minimum tax, not to forget payroll tax. none of that is addressed in legislation, is that? >> literature that i've read through, i don't see any attention being paid to that. quite frankly, i am surprised that more hasn't been paid to taxes and spending earlier on. here we are in the last inning, trying to avoid going over the debt ceiling by issuing low-priced treasury securities, suspending those so that we don't hold the debt ceiling. we don't want...
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tax code and if they bring it back they're getting whacked with tax code. we need friendly tax environment for corporations to spend the $1.2 trillion they're sitting on. gregg: if we go over the cliff that is not tax friendly. matt mccall, president of pns financial group. good to see you, matt. heather: we're seeing a bright spot in the u.s. economy. qord according to national association of realtors sales of new home were highest since april of 2010. a homebuyer tax credit caused then a spike in sales. it measures the number of americans who signed contracts to buy homes. the report also points to higher sales of previously occupied homes in the coming months. gregg: former president george h.w. bush remains in a houston hospital where he continues to recover from a persistent fever and a cough. a family spokesman just giving us some, a new details, an update on his condition. mike tobin is live outside methodist hospital with the latest. mike? >> reporter: the latest, gregg, the latest release we got included the phrase, continues to improve in relation
tax code and if they bring it back they're getting whacked with tax code. we need friendly tax environment for corporations to spend the $1.2 trillion they're sitting on. gregg: if we go over the cliff that is not tax friendly. matt mccall, president of pns financial group. good to see you, matt. heather: we're seeing a bright spot in the u.s. economy. qord according to national association of realtors sales of new home were highest since april of 2010. a homebuyer tax credit caused then a...
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i don't want taxes to go up. republicans don't want taxes to go up. but we only run the house, democrats continue to run washington. >> gregg: national correspondent steve centanni joins us live from washington. >> reporter: d.c. may be some shutting down for christmas but the clock hasn't stopped and fiscal cliff is closer than ever. no deal was reached this week to keep taxes from going up. joan boehner pulled plug on the plan "b" and he says it is now up to the president and g.o.p. is continuing to hammer away at president obama. >> this is the year size of our debt surpassed the our economy. a grim milestone if we don't come to grips to w it. the president's plan to raise tax rates ko could still be as far as eye could see. >> reporter: president obama will return after christmas and work on fiscal issues. he believes a comprehensive deal could be reached but he seems to be acknowledging for scaled back plan for cutting taxes on the middle-class. >> even though democrats and republicans are arguing about whether those rates should go up for the we
i don't want taxes to go up. republicans don't want taxes to go up. but we only run the house, democrats continue to run washington. >> gregg: national correspondent steve centanni joins us live from washington. >> reporter: d.c. may be some shutting down for christmas but the clock hasn't stopped and fiscal cliff is closer than ever. no deal was reached this week to keep taxes from going up. joan boehner pulled plug on the plan "b" and he says it is now up to the...
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everybody gets to vote for a tax cut, obama tax cuts but they are tax cuts. >> here's the deal. it was president obama, he has to realize he won the election but the house of representatives, the republicans won the house of representatives. and he has to go back and turn the negotiations and, one thing, the republicans will not allow for a tax increase and are like that defensive line, the go line and, basically president obama cannot get in, and there is -- what we know is the republicans have agreed to increasing tax revenue but we need to have the spending cuts. if we don't get them under control, what will happen is, we are seeing consumer sentiment is done and businesses uncertain and the economy will stay sluggish and not grow. >> rick: richard, last word, 20 seconds. does the president move at all on entitlements and spending cuts republicans are demanding? >> my forecast is, we'll end up with increased taxes after january 1. for people making $500,000 and over and again, most republicans east see that as a cut and i think the president put spending cuts, medicare, medic
everybody gets to vote for a tax cut, obama tax cuts but they are tax cuts. >> here's the deal. it was president obama, he has to realize he won the election but the house of representatives, the republicans won the house of representatives. and he has to go back and turn the negotiations and, one thing, the republicans will not allow for a tax increase and are like that defensive line, the go line and, basically president obama cannot get in, and there is -- what we know is the...
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they just want something that will extend middle class tax cuts. they want to see two million people get unemployment benefits extended. those are running out at end of the year by the way the president, you remember, came out on friday after speaker boehner talked about the failure of the vote thursday night and president basically said everyone should calm down, cool off over the holidays. take a listen. >> everybody can cool off. everybody can drink some eggnog, have some christmas cookies, sing some christmas carols, enjoy the company of loved ones and then i would ask every member of congress while they're back home to think about that. think about the obligations we have to the people who sent us here. >> reporter: so, sing some carols today. probably will be some eggnog. here in hawaii, maybe back in ohio where john boehner is likely celebrating the holidays as well but they have got to seriously get back to work over the next couple days and top white house officials say we can expect the president by the end of this week, it is very, very
they just want something that will extend middle class tax cuts. they want to see two million people get unemployment benefits extended. those are running out at end of the year by the way the president, you remember, came out on friday after speaker boehner talked about the failure of the vote thursday night and president basically said everyone should calm down, cool off over the holidays. take a listen. >> everybody can cool off. everybody can drink some eggnog, have some christmas...
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that fica tax break we received the last two years, so, you know, the tax increases inasmuch as you think, but we push these things to crisis because the politicians, the lobbyists every chance to donate to their campaign and that's why everything is a crisis. three out of the last four years we've gone into the new year not knowing what the tax rates are, and i will be particularly disappointed if we get a 12-month patch and get to do it again the end of this year. >> well, you know, we have the spending cuts, we have the tax increases and we also have this debt selling, hit the 16.4 trillion dollar federal debt limit monday, december 31st according to the treasury department, extraordinary measure has to take place, to continue borrowing, how will the markets react to that? >> well, you know, that's another thing that i believe we just want to start getting some fatigue from this news and it being the news event of the day. news events have no long-term impact on stock prices. while they may go down in the short-term, i would use that as a buying opportunity to get your money empl
that fica tax break we received the last two years, so, you know, the tax increases inasmuch as you think, but we push these things to crisis because the politicians, the lobbyists every chance to donate to their campaign and that's why everything is a crisis. three out of the last four years we've gone into the new year not knowing what the tax rates are, and i will be particularly disappointed if we get a 12-month patch and get to do it again the end of this year. >> well, you know, we...
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clearly, i don't want taxes to go up. taxes shouldn't go up on anyone. but to only raise taxes on those who are the top earners will only fund the government something like eight days. this is something that the american people need to understand and recognize. there are big failures going on in washington and people need to take notice and hold our politicians accountable. >> arthel: michael? >> if she's right and it's only eight days, why would the republicans hold every american taxpayer hostage for eight days' worth of a deal? there should be a deal on the tax part. it should happen in the next few hours. this is an artificial deadline created by a bunch of politicians two summers ago because they couldn't consume to an agreement. so that's why we're here on the new year's eve trying to figure out how not to have taxes go up by 99.7% of americans, which is what will happen come new year's day. that's why i think you're going to get it. the politician doesn't want to be the one to say i created the largest tax hike in history. >> arthel: so michael, w
clearly, i don't want taxes to go up. taxes shouldn't go up on anyone. but to only raise taxes on those who are the top earners will only fund the government something like eight days. this is something that the american people need to understand and recognize. there are big failures going on in washington and people need to take notice and hold our politicians accountable. >> arthel: michael? >> if she's right and it's only eight days, why would the republicans hold every american...
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higher tax rate. john boehner floated a plan that would have kept low rates for those making up to a million dollars. two house members talked to us earlier today about where the tax issue is likely heading. >> the $400,000 level seems to me to be about right. that represents about the top 1% of income earners in the country. we need to save tax hikes on as many americans as we can. i kind of feel like i'm a life guard and we got to save as many people from crown not guilty higher taxes as we can. >> the challenge is finding the right figure to win some republican support in the senate and attract enough votes to pass the house. kelly. >> kelly: interesting comment right there, feeling like a life guard. many people are wondering if they're going to do that on capitol hill. thanks so much. going to be an interesting new year. watch fox sunday tomorrow. chris wallace talks with lindsey graham and nine fine stein. check your -- diane feinstein. >> heather: new york city police have a woman in custody wh
higher tax rate. john boehner floated a plan that would have kept low rates for those making up to a million dollars. two house members talked to us earlier today about where the tax issue is likely heading. >> the $400,000 level seems to me to be about right. that represents about the top 1% of income earners in the country. we need to save tax hikes on as many americans as we can. i kind of feel like i'm a life guard and we got to save as many people from crown not guilty higher taxes...